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IAT Insurance Group · 1 month ago

Senior Regulatory Counsel

Raleigh, NC

Full-time

Hybrid

Senior Level

5+ years exp

IAT Insurance Group is the largest private, family-owned property and casualty insurer in the U.S. They are seeking a Senior Regulatory Counsel responsible for overseeing legal review of Regulatory Compliance matters and driving internal education and initiatives for regulatory reporting and claims best practices.

CommercialFinanceFinancial ServicesInsuranceInsurTech

Comp. & Benefits

Responsibilities

Serve as in-house counsel responsible for responding to Legal and Regulatory Matters for Property and Casualty Claims

Provide legal advice and regulatory opinions to be used by Claims, Underwriting, and other internal business partners

Advise Claims and Underwriting of statutory and legal developments and emerging trends impacting the insurance industry regulations and Department of Insurance mandates

Assist Claims and other business units in their handling of claims and litigation in compliance with Claims Best Practices to ensure claim handling discipline and superior Quality Review and Audit scores, including timely coverage reviews and coverage correspondence

Provide opinions and legal guidance to Property and Casualty Claims regarding coverage disputes, extra-contractual claims, declaratory judgment actions, and claims best practices requirements

Manage claims systems and data for accuracy and timely reporting

Assist Claims Leadership by identifying litigation trends, providing legal updates and training regarding emerging policies, cases, statutes, and regulations impacting the insurance industry

Monitor and ensure Company compliance with federal, state, and local regulations. Stay updated on changes in laws and regulations that may affect the Company, its claims handling, and business practices

Work in conjunction with other leaders in the Legal Department to develop, implement, and maintain compliance policies and procedures

Develop and deliver training programs to educate employees on compliance-related topics and promote a culture of compliance within the Company

When necessary, interface with internal and external stakeholders to respond to Department of Insurance and other regulatory audits and requests for information. Oversee regulatory audits and Department of Insurance on-site meetings. Communicate any regulatory findings and directives to senior management

Work collaboratively with adjusters, Managers, and Claims Leaders to ensure the Company timely and accurately responds to Department of Insurance Complaints lodged by policyholders

Prepare and present compliance reports to senior management. Maintain accurate records of compliance activities and findings

When necessary, conduct internal investigations into compliance issues and complaints. Work with colleagues in the Legal Department to resolve issues and implement corrective action

Collaborate with various departments, including Claims, Underwriting, HR, and Operations to ensure a cohesive approach to compliance

Perform other legal and litigation duties as assigned

Qualification

Juris DoctorRegulatory ComplianceInsurance LitigationCompliance SoftwareISO ReportingMedicare ReportingCustomer ServiceMultitaskingOral CommunicationWritten CommunicationInterpersonal SkillsCritical ThinkingProblem Solving

Required

Juris Doctor from an accredited law school required

At least 5 years of relevant legal experience, which focused on insurance industry Regulatory Compliance, Claims Best Practices, ISO and Medicare Reporting, and regulatory audits

Strong understanding of regulatory requirements and compliance standards in the insurance industry

Proficiency in compliance software and tools, including tools used for ISO reporting and Medicare reporting

Must have State Bar License that is in good standing

Must have insurance and extra-contractual litigation experience

Excellent oral and written communication skills

Excellent customer service and interpersonal skills

Advanced critical thinking and problem-solving skills

Ability to set priorities and multitask in a fast-paced environment

Ability to travel if required

Preferred

Experience working with an insurance company a plus

Experience handling coverage disputes involving first-party property and/or third-party liability claims with an exposure of $250,000 or more including both primary and excess losses preferred